Euro lower after data showed Spanish unemployment deepened; Draghi speech on tap
The number of unemployed people in Spain increased for the third
consecutive month in October, driving worries about the health of the
euro zone’s fourth largest economy, official data showed on Tuesday.
In a report, Spain’s Employment Ministry said the number of unemployed people increased by a seasonally adjusted 82,300 last month, compared to expectations for an increase of 70,300. In September, the number of unemployed people rose by 26,100.
The euro declined after the report with EUR/USD last seen at 1.0971, down 0.41%.
EUR/GBP lost 0.28% to trade at 0.7126.
European stocks traded mixed with Germany's DAX dipping 0.3% and London's FTSE 100 down 0.12%. France's CAC 40 was last down 0.03%.
In Frankfurt, Volkswagen shares fell 2.72% after the U.S. Environmental Protection Agency leveled new emissions-rigging charges against the auto maker. The EPA on Monday said its recent tests found Volkswagen installed devices aimed at manipulating U.S. pollution tests in some Volkswagen, Audi and Porsche diesel-powered vehicles.
While corporate updates attracted the most attention, markets will eye European Central Bank President Mario Draghi after the European trading day finishes. He will speak in Frankfurt at 6 p.m. London time, or 1 p.m. Eastern Time, at the opening of the European Cultural Days 2015 event, organized by the central bank.
